1st Quarter Results-Part 2
May 07 2003 - 5:47AM
UK Regulatory
RNS Number:7793K
Bayer AG
07 May 2003
Bayer Group Highlights
Euro million 1st Quarter 1st Quarter
2003 2002 Change
Sales (Euro million) 7,356 7,233 + 1.7%
Sales from continuing operations 7,356 7,010 + 4.9%
Domestic companies 2,094 2,021 + 3.6%
Foreign companies 5,262 4,989 + 5.5%
Change in sales from continuing operations
Volume + 3% + 1%
Price 0% - 4%
Currency - 11% + 1%
Portfolio changes + 13% - 4%
Operating result (Euro million) 1,075 840 + 28.0%
of which one-time items 242 354
Operating result from continuing operations 1,075 818 + 31.4%
of which one-time items 242 354
Return on sales from continuing operations + 14.6% + 11.7%
Net income (Euro million) 586 523 + 12.0%
Earnings per share (Euro) 0.80 0.72
Gross cash flow (Euro million) 1,402 834 + 68.1%
Gross cash flow per share (Euro) 1.92 1.14
Net cash flow (Euro million) 163 240 - 32.1%
Capital expenditures* (Euro million) 476 530 - 10.2%
Domestic companies 149 184 - 19.0%
Foreign companies 327 346 - 5.5%
Number of employees* (as of March 31) 118,600 112,100 + 5.8%
Personnel expenses (Euro million) 1,925 1,888 + 2.0%
* continuing operations
HealthCare
Euro million 1st Quarter 1st Quarter
2003 2002 Change
Sales 2,108 2,410 - 12.5%
Proportion of Group sales 28.7% 34.4%
Operating result 480 230 + 108.7%
of which one-time items 193 (4)
Return on sales 22.8% 9.5%
Gross cash flow 468 266 + 75.9%
Net cash flow 333 (4) *
CropScience
Euro million 1st Quarter 1st Quarter
2003 2002 Change
Sales 1,661 866 + 91.8%
Proportion of Group sales 22.6% 12.4%
Operating result 443 144 *
of which one-time items 33 0
Return on sales 26.7% 16.6%
Gross cash flow 517 107 *
Net cash flow (192) (169) - 13.6%
Polymers
Euro million 1st Quarter 1st Quarter
2003 2002 Change
Sales 2,552 2,613 - 2.3%
Proportion of Group sales 34.7% 37.3%
Operating result 74 21 *
of which one-time items (17) (92)
Return on sales 2.9% 0.8%
Gross cash flow 301 257 + 17.1%
Net cash flow 101 221 - 54.3%
Chemicals
Euro million 1st Quarter 1st Quarter
2003 2002 Change
Sales 872 935 - 6.7%
Proportion of Group sales 11.9% 13.3%
Operating result 38 37 + 2.7%
of which one-time items (2) (2)
Return on sales 4.4% 4.0%
Gross cash flow 100 83 + 20.5%
Net cash flow 17 40 - 57.5%
Bayer Group Summary Cash Flow Statements
Euro million 1st Quarter 1st Quarter
2003 2002
Gross operating cash flow 1,402 834
Changes in working capital (1,239) (594)
Net cash provided by operating activities 163 240
of which discontinuing operations 0 22
Net cash provided by (used in) investing activities 989 (117)
of which discontinuing operations 0 (28)
Net cash provided by financing activities 247 249
of which discontinuing operations 0 5
Changes in cash and cash equivalents due to business activities 1,399 372
Cash and cash equivalents at beginning of year 767 719
Change due to exchange rate movements and to changes in scope of consolidation (1) 1
Cash and cash equivalents at end of first quarter 2,165 1,092
Marketable securities and other instruments 25 52
Liquid assets as per balance sheets 2,190 1,144
Summary Income Statements
Euro million 1st Quarter 1st Quarter
2003 2002 Change
Sales 7,356 7,233 + 1.7%
Operating result 1,075 840 + 28.0%
Non-operating result (172) (157) - 9.6%
Income before income taxes 903 683 + 32.2%
Net income 586 523 + 12.0%
Balance Sheet Structure
Euro million March 31, March 31, Dec. 31,
2003 2002 2002
Noncurrent assets 22,680 21,621 23,513
Current assets 19,493 16,541 18,179
Stockholders' equity 15,042 16,763 15,335
Minority stockholders' interest 123 96 120
Liabilities 27,008 21,303 26,237
Total assets 42,173 38,162 41,692
This information is provided by RNS
The company news service from the London Stock Exchange
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